Figma, a cloud-based design platform based in San Francisco, has officially filed an IPO with the Securities and Exchange Commission (SEC).
The company submitted its S-1 submissions to SES today. According to filing data, Figma has approximately $69.5 million in Bitcoin ETF assets as of March 31, 2025.
The move was seen as an indicator of the company’s strategic interest in digital assets, but Figma’s board of directors made a decision made on May 8, 2025, and also approved a $30 million BTC investment plan. Within this range, comparable amounts of USDC were purchased and those assets were planned to be converted to Bitcoin.
As part of the IPO, Figma will list stocks in Class A common stock on the New York Stock Exchange (NYSE) in its own name and the name of existing shareholders participating in the sale. The company currently has no open market history.
In the statement made, Figma’s shares were organized into three different classes.
- Class A: 1 vote per share,
- Class B: 15 votes per share (convertible),
- Class C: Non-voting stocks (limited conversion rights).
The majority of post-IPO voting rights will be reportedly remain with the company’s CEO and co-founder Dylan Field. Dylanfield retains most of his voting rights through proxy grants from co-founders Evan Wallace and the Wu-Wallace Family Foundation.
*This is not investment advice.
